The Brisbane property market ticks most of the boxes for future price growth: CoreLogic

THE Brisbane housing market ticks most of the boxes for future price growth — but the question is when.

CoreLogic figures to be released on Tuesday are likely to reveal Brisbane has experienced a very small drop in values in the past month.

Values went down by 0.3 per cent during the first 27 days of July.

CoreLogic research director Tim Lawless said the Brisbane market had remained fairly flat so far this month.

“The soft result across Brisbane is nothing new, but it does imply that housing market conditions across Brisbane are yet to fire up despite a trend towards higher interstate migration, improving jobs growth and a substantial affordability advantage over the larger capitals,’’ he said.

“When we see the full results on Tuesday next week it will be interesting to see if there is still a drag down effect from a weak performance across the apartment sector.’’

Mr Lawless said there was now a substantial gap in Brisbane between how the house market and the unit market performed.

According to Tim Lawless Brisbane has the fundamentals for future price growth

House values had grown in the past year, while unit values had dropped.

Mr Lawless said the Brisbane housing market ticked most of the boxes to suggest growth conditions should improve.

“Housing prices are very affordable relative to Sydney and Melbourne, rental yields are substantially higher which should be attractive to investors, jobs growth has shown consistent signs of improving and higher population growth is providing more demand for housing,’’ he said.

“The wildcard remains the inner city unit market where high supply levels could become more problematic as projects that are under construction approach settlement.’’

Mr Lawless said the house market was better placed for price growth, particularly houses within a reasonable distance to the city or transport routes.

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